Yahoo names Scott Thompson as CEO Wednesday, January 4, 10:00 AM ET
Struggling Internet search engine Yahoo! (NASDAQ:
YHOO) will name PayPal President Scott Thompson as CEO, according to sources. He would replace former CEO Carol Bartz, who was fired in September.
Thompson is currently running PayPal, eBay's (NASDAQ:
EBAY) online payment unit.
Yahoo! Has been struggling with competition from newer companies, such as Google (NASDAQ:
GOOG) and Facebook.
The company rejected an unsolicited takeover bid by Microsoft (NASDAQ:
MSFT) in 2008.
It has been unwinding its shares in Chinese search engine Alibaba, which has hired a consultant to potenitally negotiate a deal to take over Yahoo! if their partnership were to fail entirely.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Yahoo names Scott Thompson as CEO
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